Generic Coating Market Trends and Forecast
The future of the global generic coating market looks promising with opportunities in the consumer electronic, automotive, aerospace & defense, and medical markets. The global generic coating market is expected to grow with a CAGR of 7.2% from 2024 to 2030. The major drivers for this market are increasing demand for durable and protective surfaces across various industries, rising infrastructure and construction activities globally, and advancements in coating technologies and materials.
• Lucintel forecasts that acrylate is expected to witness the highest growth over the forecast period.
• Within this market, consumer electronic is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Generic Coating Market
• United States: PPG Industries announced plans to invest $15 million in a new coating innovation center in Pittsburgh to enhance R&D capabilities, targeting sustainable and high-performance coatings. The U.S. government has also set a target to reduce VOC emissions from coating products by 30% by 2030.
• China: AkzoNobel expanded its production capacity in China with a new plant in Guangzhou, aiming to meet the increasing demand for eco-friendly coatings. The Chinese government supports this initiative with incentives for green manufacturing practices and aims to boost the green coating market share to 50% by 2025.
• Germany: BASF launched a new series of bio-based coatings, focusing on reducing carbon footprints. The German government has introduced subsidies for companies adopting sustainable practices, aiming to make 40% of all coatings bio-based by 2030 as part of its climate action plan.
• India: Asian Paints announced a partnership with a local startup to develop antimicrobial coatings, targeting the healthcare sector. The Indian government has set a goal to increase the use of antimicrobial coatings in public buildings by 20% over the next five years, supporting innovation through grants.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Generic Coating Market by Segment
The study includes a forecast for the global generic coating market by type, application, and region.
Generic Coating Market by Type [Value from 2018 to 2030]:
• Acrylate
• Silicone
• Polyurethane
• Epoxy Resin
• Others
Generic Coating Market by Application [Value from 2018 to 2030]:
• Consumer Electronics
• Automotive
• Aerospace & Defense
• Medical
• Others
Generic Coating Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Generic Coating Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies generic coating companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the generic coating companies profiled in this report include-
• Dow Corning
• Chase Corporation
• 3M
• Fuji Chemical
• Shinetsu
• Elantas Electrical Insulation
• Hubei Huitian New Materials
Recent Development in the Generic Coating Market
• PPG Industries: PPG Industries recently launched its advanced PPG Envirocron® Extreme Protection Edge coating, designed to provide superior edge corrosion protection in harsh environments. This innovative coating addresses critical performance needs in the industrial and automotive sectors, enhancing durability and longevity.
• Sherwin-Williams: Sherwin-Williams announced the acquisition of the European industrial coatings business from Sika AG. This strategic move expands Sherwin-WilliamsÄX%$%X footprint in the global market, particularly in the protective and marine coatings segment, allowing the company to better serve its international customers.
• AkzoNobel: AkzoNobel unveiled its new Interpon Redox range of anti-corrosion powder coatings. This range is tailored for various industries, including construction and infrastructure, offering enhanced protection against corrosion and environmental damage, thereby extending the lifespan of coated products.
• Axalta Coating Systems: Axalta introduced its Alesta® ZeroZinc Prime, a primer that offers exceptional corrosion resistance without the use of zinc. This product meets stringent environmental regulations and supports sustainable practices, reflecting the companyÄX%$%Xs commitment to green technologies.
• Nippon Paint: Nippon Paint Holdings launched its ProDura® Shield technology, a high-performance coating solution designed for heavy-duty applications. This technology provides excellent weather resistance and mechanical strength, making it ideal for use in the construction and transportation industries.
Features of the Global Generic Coating Market
Market Size Estimates: Generic coating market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Generic coating market size by type, application, and region in terms of value ($B).
Regional Analysis: Generic coating market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the generic coating market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the generic coating market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for generic coating market?
Answer: The global generic coating market is expected to grow with a CAGR of 7.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the generic coating market?
Answer: The major drivers for this market are increasing demand for durable and protective surfaces across various industries, rising infrastructure and construction activities globally, and advancements in coating technologies and materials.
Q3. What are the major segments for generic coating market?
Answer: The future of the generic coating market looks promising with opportunities in the consumer electronic, automotive, aerospace & defense, and medical markets.
Q4. Who are the key generic coating market companies?
Answer: Some of the key generic coating companies are as follows:
• Dow Corning
• Chase Corporation
• 3M
• Fuji Chemical
• Shinetsu
• Elantas Electrical Insulation
• Hubei Huitian New Materials
Q5. Which generic coating market segment will be the largest in future?
Answer: Lucintel forecasts that acrylate is expected to witness the highest growth over the forecast period.
Q6. In generic coating market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the generic coating market by type (acrylate, silicone, polyurethane, epoxy resin, and others), application (consumer electronics, automotive, aerospace & defense, medical, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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